Lines of Communication | Fall 2020

LINES

Fall 2020

of Communication

PEOPLE FIRST Count on the expertise of your success team.

NOW’S THE TIME Borrow or refinance at low rates while they last!

BRICKS & MORTAR Ranked a top commercial mortgage lender.

FALL CAR SALE October 17-24, 2020

www.capcomfcu.org/carsale Online Event: 15+ Local Dealerships Exclusive Member Pricing Low Loan Rates!

Jenn Bethon Senior Financial Services Associate

Federally insured by NCUA

Pay a Bill in Less Than 30 Seconds Say goodbye to the hassle of tracking paper bills, writing checks, and paying for stamps – and say hello to saving time and money.

Digital banking makes paying bills fast, easy, and free through your online account or mobile app. In less than 30 seconds, schedule a one-time or recurring payment to a company or an individual using Bill Pay. Simply enter a few details and let our secure, encrypted system do the rest.

Get started with Bill Pay today! www.capcomfcu.org/billpay

Happy Birthday!

Pretty soon, it will be your special day again. On your birthday month, we’d like to email our best wishes with a coupon for a sweet treat.

Is your email address on file with CAP COM up-to-date? Log in to your account (Settings) or call us at (800) 634-2340 to confirm it.

BANK ANY WAY YOU LIKE CLICK Bank Online www.capcomfcu.org TAP Get our Mobile Banking App www.capcomfcu.org/mobile CALL Contact Member Services or Automated Phone Banking (800) 634-2340 (518) 458-2195 Headquarters VISIT Neighborhood Branches plus Shared Branches Across the U.S. www.capcomfcu.org/locations

President/CEO Message

Over several months, we’ve experienced enormous change in our lives. As we adjust to the “new normal,” ordinary things we once took for granted now feel special.

Family, friends, co-workers – people you can count on. We need each other more than ever.

I continue to be amazed by our incredible employees who serve you.

Taking care of members, employees, and our communities is CAP COM’s mission in action.

So, let us help you manage your financial well-being, overcome budget challenges, and take control of your finances.

I urge you – as I’ve urged family and friends – to benefit from some of the

lowest interest rates I’ve seen in my lifetime, here at CAP COM now. You can save money by refinancing your car loan or mortgage. If you have other debt, consider consolidating into a lower-rate loan.

Remember, our teams are here to help put you in the best financial position possible.

The clouds of the pandemic can have silver linings. Even so, we look forward to brighter days. On behalf of all of us at CAP COM, please stay safe and be well.

Christopher McKenna President/CEO

CALENDAR OCTOBER

NOVEMBER

DECEMBER

Mon, Oct 12 Closed for Columbus Day

Thur, Nov 5 Medicare Webinar

Sat, Oct 17-24 Fall Car Sale www.capcomfcu.org/carsale

Tues, Nov 10 Medicare Webinar

Thur, Dec 10 Retirement Bound Webinar

Tues, Oct 20, Wed Oct 21, or Thur Oct 22 Basics of Medicare Webinar Thur, October 22 Retirement Bound Webinar Thur, Oct 29 Retirement Bound Webinar Thur, Oct 29 Medicare Webinar

Wed, Nov 11 Closed for Veterans Day Thur, Nov 12 Medicare Webinar Thur, Nov 19 Retirement Bound Webinar Thur, Nov 26 Closed for Thanksgiving

Thur, Dec 4 Closed 1:00, Christmas Eve Fri, Dec 25 Closed for Christmas Thur, Dec 31 Closed 4:30, New Year’s Eve JOIN US For the Retirement event: www.capcomfinancial.com For the Medicare event: www.capcomfcu.org Let's Be Friends Join our growing community.

www.capcomfcu.org Lines of Communication is published for CAP COM Federal Credit Union members. The Supervisory Committee is the members’ representative. Please address any situations you feel were not handled to your satisfaction by the credit union to: Supervisory Committee, P.O. Box 11279, Albany, NY 12211-0279

Shopping Scams

MEET JENN “Your smile is your personal logo.”

Jenn Bethon, Senior Financial Services Associate We caught up with Jenn early one morning before the branch opened. She shared her experience serving members over the last several months.

Q. What’s it been like since CAP COM branches reopened?

A. I was nervous at first. I wasn’t sure if members would be upset about following new branch rules, like wearing a mask. I’ve been pleasantly surprised. Overall, there’s a feeling that we’re in this together.

Q. What are some ways you’ve helped members during this time?

A. I’ve helped members set up online banking, so they can bank from the

comfort of home. With financial pressures bearing down, members want information on loan relief and how to apply.

Q. Have you seen any positive changes?

A. Our drive-thru has become popular, with many members now saying they prefer it. Everyone has shown a lot of respect for our tellers. That means so

Savvy consumers aren’t the only ones on the hunt yearround. As shoppers seek the best online deals and discounts, thieves are waiting to pounce.

Protect your finances and personal information by steering clear of questionable merchants. You’ll want to avoid unfamiliar websites offering deals too good to be true.

Recently, we spotted a website with UGG® boots for $19.99. No thanks!

See 6 tips to skip the scams: www.capcomfcu.org/6tips

much to our team.

Did you know you can conduct many of the same transactions at a drive-thru as you can inside a branch? See drive-thru services at: www.capcomfcu.org/drivethru

COMMUNITY HEROES MORTGAGE PROGRAM You’re eligible for CAP COM Community Hero discounts ($1,000+ value) toward your home purchase if you work in healthcare, education, the U.S. military, law enforcement, or fire and rescue.1 Learn more: www.capcomfcu.org/hero “Being first-time home-buyers, CAP COM made it very easy for my fiancé and I with the process of buying our home. I’m a Registered Nurse, and Eric Cruz, our Mortgage Specialist, introduced us to the Community Heroes Mortgage Program. This program was amazing and made our homebuying process smooth from start to finish. We are so grateful for the wonderful experience that we had and would highly recommend CAP COM to anyone who is looking to buy a home!”

– Jennifer P., Halfmoon 1. Mortgage products are offered by our Mortgage Team, Homeowners Advantage (HOA), which is a subsidiary of CAP COM FCU. Mortgages in New York State only. Home loan interest may be tax deductible. Consult your tax professional about deductibility in your situation. HOA is a Licensed Mortgage Banker - NYS Dept. of Financial Services. HOA NMLS Identifier: 290363. Principal Address: 4 Winners Circle, Albany, NY 12205. CAP COM FCU NMLS Identifier: 401261.

Visit www.capcomfcu.org/hero for complete terms and conditions. Must be eligible for CAP COM membership. Proof of employment in healthcare, education, law enforcement, fire and rescue, U.S. military, or veteran status is required to be eligible for the Community Heroes Mortgage Program.

Get Paid to Shop Shopping just got more rewarding for VISA® Platinum Credit Card holders. Whether you’re looking to buy the perfect gift or treat yourself to a special purchase – prepare to double dip!

Rack up twice the usual Rewards points in November and December 2020 by paying with your VISA Platinum Credit Card.

Redeem your Rewards for cash, merchandise, and more!

Want to get in on the action?

Apply2 for our VISA Platinum Credit Card at: www.capcomfcu.org/rewards 2. A credit check determines which CAP COM VISA Credit Card you receive.

Refinance Your Loan

LOWEST RATES IN YEARS! Today’s extremely low interest rates can mean savings for CAP COM members. Refinancing your auto loan, mortgage or personal loan from another lender to CAP COM could result in a lower monthly payment – and reduce the total interest you pay.

Here’s an example of how a borrower can save $700 in interest over the life of the loan and lower monthly payments a bit.

Original Auto Loan Amount: $30,000 Original Interest Rate: 3.24% Original Term: 60 months Original Monthly Payment: $542

Refinance One Year Later Amount: $24,382.02 New Interest Rate: 1.89% New Term: 48 Months New Monthly Payments: $528

Use our calculator to figure how much you can save by refinancing your auto loan: www.capcomfcu.org/carloan

FAST-TRACK FINANCING Need money to cover a large purchase or unexpected expenses? You might already be pre-approved for your loan!

LoanXpress allows you to skip the usual application process and view eligible loan offers straight from your CAP COM account. All you need to do is log in to your CAP COM account, select LoanXpress, and review offer details.1

My Accounts Bill Pay

Move Money LoanXpress

What if you don’t see LoanXpress offers?

You could still be eligible for a CAP COM loan, and it’s easy to apply online.

Learn more about LoanXpress at: www.capcomfcu.org/loanxp 1. Credit qualified. Conditions may apply.

EMERGENCY FUND OPTION Saving up an emergency fund to cover six months of expenses can take years. Now with interest rates at historic lows, eligible homeowners have options – like tapping their home’s equity to create a financial safety net.

CAP COM’s Home Equity Line of Credit (HELOC) enables homeowners to establish a credit line based on their home’s equity – with no closing costs!2 Cash can be accessed as needed, and interest is paid only on the amount borrowed.

Everybody’s situation is different. See how a HELOC can supplement your savings and let us help you find a solution that works best for you and your finances. More at www.capcomfcu.org/heloc 2. Mortgages in New York State only. All Lines of Credit require a minimum initial advance of $5,000 and a minimum limit of $10,000. No closing costs on home equity lines of credit (HELOCs) up to $250,000. Discharge fees and overnight shipping charges are excluded where applicable. If the HELOC is paid and closed within 3 years of the closing date there is a recapture fee in which you will have to reimburse the Credit Union for all closing costs paid on your behalf. Estimated recapture fee examples include $457 in closing costs and a maximum average of $2,475 in New York state mortgage tax for Albany, Schenectady, and Rensselaer counties. Actual closing costs and mortgage tax may be different. CAP COM FCU NMLS Identifier: 401261.

Medicare Coverage & Gaps

Retirement Readiness

8 MISTAKES TO AVOID Dreams of retirement shouldn’t keep you up at night. But financial uncertainty can cause you to toss and turn with worry. Strive to avoid 8 big mistakes.

1) Not participating in employer 401(K) matching programs 2) Prioritizing saving for a child’s college education 3) Underestimating retirement healthcare costs 4) Failing to adjust your retirement portfolio 5) Forgetting to take care of your health 6) Not having a retirement strategy 7) Chasing “hot” investments 8) Bringing debt into your retirement years Learn more about these and other common, yet avoidable, mistakes when you attend an afternoon or evening Retirement Bound webinar.

Thursday | October 22 or 29 | November 19 | December 10 Register at www.capcomfcu.org/rb. Can’t make a webinar? Call (518) 782-0209 to schedule a complimentary phone, video, or in-person meeting with distancing.

Should I Accept a Pension Buyout?

An employer’s offer to buy out your pension can be tempting. But, giving up a guaranteed future monthly payment for a bulk payment now might not be the best move for you. Deciding whether to accept a pension buyout can be stressful because your choice has long-term implications for your lifestyle in retirement. Relax and let us help you understand your options. Schedule a phone meeting by calling (518) 782-0209.

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC).

Insurance products are offered through LPL or its licensed affiliates. CAP COM Federal Credit Union and CAP COM Financial Services, LLC are not registered as a brokerdealer or investment advisor. Registered representatives of LPL offer products and services using CAP COM Financial Services, LLC, and may also be employees of CAP COM Federal Credit Union. These products and services being offered through LPL or its affiliates, which are separate entities from, and not affiliates of CAP COM Federal Credit Union or CAP COM Financial Services. Securities and insurance offered through LPL or its affiliates are: Not Insured by NCUA or Any Other Government Agency

Not Credit Union Guaranteed

Not Credit Union Deposits or Obligations

May Lose Value

Medicare Supplement Insurance (Medigap) is meant to pay for costs Original Medicare doesn't cover.

Yet, understanding the program and finding a policy that's a good match isn't always easy.

My Health Coverage Needs Start by asking yourself:  Did I have problems with my medical plan last year?  Can I afford my current plan?  Do I want supplemental coverage?  How much traveling will I do next year?  Was I recently diagnosed with a new illness?  Will I need dental or vision coverage?  Do I need a separate prescription drug plan?

Your answers can help identify a policy to fill gaps in basic coverage.

Now, take the next step and attend our Medicare Webinar. You'll learn how to compare policies based on your needs and select the right one for you.

Expanded schedule this fall! See the calendar on page 2 and register at: www.capcomfcu.org/medicare If you can’t attend one of our webinars, call (518) 782-0209 to schedule an appointment (phone, video, socially-distanced meeting).

Golfing Alone Together The in-person CAP COM Cares Foundation golf tournament was canceled this summer, but our corporate partners stepped up. These companies committed their support to “Golfing Alone Together” with sponsorships of at least $1,000 each, so we can continue supporting organizations that improve the lives of Capital Region families. THANK YOU!

COMMUNITY OUTREACH Mission Accomplished Mission Accomplished provides graduating high school seniors with a package containing more than $400 in school, personal, and dorm supplies to prepare them for college. The CAP COM Cares Foundation facilitated supplies for 35 bins – #passionwins! More: www.matransitionservices.org Capital Roots The Produce Project farm in Troy is a program for high school students to build life skills while performing the daily tasks of a farm. Students work 20 hours per week – planting, weeding, and harvesting fruits and vegetables. CAP COM volunteers helped the students with weeding in July. Learn more: www.capitalroots.org Colonie Senior Centers CAP COM Cares volunteers helped with a “meal to-go” fundraiser in August. The chefs at Mazzone and Colonie Senior Service Centers cooked about 500 meals togo in a drive-thru setting at the Beltrone Living Center in Albany.

Learn more: www.colonieseniors.org

Accent Commercial Furniture BBL Bond, Schoeneck & King, PLLC Brown & Brown of New York Bruno Associates CDPHP CEO (Commission on Economic Opportunity) CUNA Mutual Group Elite Capital Management Group Fidelity National Title Group Genworth Mortgage Insurance Corp.

HVCC Foundation Kerr deVoe Lecce Arcodia Northeast Health Foundation Overit Media

Business Financing for Your Bricks & Mortar

PNJ Technology Partners

The Albany Business Review has again recognized CAP COM as a top commercial mortgage lender, with the second-greatest increase among area lenders.

CAP COM’s commercial mortgage loan volume grew at an astonishing 98% in 2019 and now ranks sixth overall in the region.

Why? CAP COM offers extremely competitive rates, low commitment fees, no pre-payment

Whittaker Appraisal Group

penalties, terms up to 15 years, and amortization up to 25 years.

Whether investing in multi-unit properties, real estate, or new construction, it’s critical to work with a reliable funding source supported with personal service.

Contact the CAP COM team at (800) 468-5500, ext. 2948 and get to know us at: www.capcomfcu.org/bizteam

Trinity Realty Group Universal Sharing Network WCGS Architects WorldPay

“The right lender helps you save money in interest and fees and accelerates the funding process.”

Brian Sheldrick Vice President of Business Services